Blackstone buys Serco BPO operations for £250 million

Private equity firm Blackstone has acquired a majority stake in Serco’s BPO operations for £250 million (₹2,558 crore). This is the largest such deal for Blackstone in India. The sale does not include the UK business of Serco Global Services, which will be divested later.

The deal is expected to bring back some action in the Indian BPO market, which has not seen any major consolidation in the recent past. According to Nasscom, revenue from the Indian IT-BPM industry stood at $146 billion last year, growing 13 per cent last year and commanding a 55 per cent global sourcing share. The domestic market itself is rapidly growing with business coming from e-commerce companies and start-ups.

“The good thing is that Serco has a solid focus and it is going after the few things and it wants to do them very well. It is also going after areas that weren’t traditionally its stronghold, which is a good sign,” said Sanchit Gogia, chief analyst at Greyhound Research.

Greyhound On Twitter

Legal Note

The contents in this portal do not necessarily reflect the opinions, ideas, thoughts, points of view, and any other potential attribution to any contributor's, commentator's, or author's past or future employers. No NDA's have been broken. Email our Client Centricity Team to learn more on our NDA policy. Sources may come from both publicly available information and private individual conversations. In case of publicly available information, attributions have been added.

Copyright Policy

Unless otherwise noted, Greyhound Research is the legal copyright holder to all material on this portal. The content is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License which does not allow to reprint or republish any material for commercial usage or without crediting the source and the author.

GQube Councils

Connect with other Senior Decision Makers solving similar problems like yourself. Join our exclusive, invite-only CxO community called Greyhound Golden Gate. Send us a note to learn more & enrol!